Former Vice President and ADC presidential candidate Atiku Abubakar has accused President Bola Tinubu of burdening ordinary Nigerians with a significant debt of N716,882 per person. This debt is part of the total ₦166.79 trillion public debt. Atiku expressed his concerns about the President's plan to seek an additional $1.5 billion loan from the World Bank. He emphasized that the President must provide an account of the funds already borrowed before seeking new loans.
Atiku Abubakar's statement, issued by the Director of Strategic Communications of the ADC Presidential Campaign Council, Phrank Shaibu, criticized President Tinubu's economic stewardship. He pointed out that Nigerian families are struggling to afford basic necessities like food, fuel, and electricity, yet the debt continues to rise. Atiku questioned the effectiveness of the government's policies, noting that Nigerians have felt the pain but have not seen the promised development.
According to Atiku, if Nigeria's public debt were divided among its citizens, each person's share would be ₦716,822. This represents an 87% increase from three years ago when it was ₦383,442. He expressed concern that President Tinubu's government has made life difficult for Nigerians and the future uncertain. Atiku questioned the government's achievements, asking who has benefited from its policies and why Nigerians should trust him with another term in office.
Atiku acknowledged that the proposed $500 million facilities for climate resilience, social protection, and early childhood development address real needs. However, he insisted that the government must provide a clear plan for delivering measurable results and publish the projects to be funded. He emphasized the need for transparency, including identifying the communities and citizens expected to benefit, the targets for each program, and a timetable for tracking delivery.
Atiku challenged the government to reconcile its appetite for borrowing with its claims of higher revenue and savings from petrol subsidy removal. He asked why the debt continues to climb if more money is coming in and where the results are, given the sacrifices made by Nigerians. A government cannot keep announcing savings, signing loans, and asking struggling families to wait for relief, he added.
The former Vice President emphasized that the question before President Tinubu is no longer about naming development programs but about what Nigerians can see, use, and independently verify. He demanded that the government show the money already received, what it has built, and who has benefited. Atiku concluded that the government must account for the debt already on Nigeria's books before borrowing another dollar.
Atiku's criticism comes as the National Assembly plans to translate laws into local languages, including Hausa, Igbo, and Yoruba. Meanwhile, the government's economic policies continue to face scrutiny, with many Nigerians feeling the impact of the rising debt. The President's administration will need to address these concerns and provide a clear plan for managing the country's debt and delivering development programs.
Key points
- Atiku Abubakar criticizes President Bola Tinubu's debt management.
- Each Nigerian now owes N716,882 due to the total ₦166.79 trillion public debt.
- Atiku demands transparency and accountability in the government's borrowing and spending plans.
